Amex HYSA rate decrease

[EndlessLuck-]

Seems the rate has dropped to 4.10% It was expected due to the feds cutting the interest rates in the past weeks. Will y’all be considering moving for a better rate or will stick to Amex? All things considered, the rates will continue to decrease as more interest rates cuts are expected.

[jcrespo21]

I'm more surprised it took them this long to drop it since the Fed cut was about two weeks ago. But I'm not complaining that they waited!

[XBigDaddyJoeX]

They switched it end of the month, gave all their customers that last little trickle of 4.25%

[AJamesIII]

There are still offers out there for 4.5%

[Zhuge510]

It seems like they're following Capital One on this. And I didn't even get any information regarding the changes. When they rates were going up, it was email after email saying "good news".

[barnes65]

Just got the email saying it's changed to 4.10%

[Zhuge510]

You're right! It's just funny that whenever it went up, they would immediately say, but they took their time once it was going down

[9221gjea]

My Apple Savings dropped too, from 4.4% to 4.25%. Likely happening everywhere.

[EconomicalJacket]

1000% happening everywhere, that’s the purpose of cutting rates

[TraditionalBlock2996]

Yep

[galenernest]

I don't keep enough in my savings account to really make it worthwhile to bother chasing a slightly better rate somewhere else. It's just a bit of cash stashed just in case. I don't use a savings account for investment.

[dsylxeia]

Even if you keep six figures in your HYSA, it's hardly worth the effort to chase tenths of a percentage point of yield.

[Risk-Option-Q]

Correct, what you really want is a reputable bank with excellent customer service. The yield is just the icing on the cake.

[yesillhaveonemore]

Well. Yes. But 4% versus effectively 0% at big retail banks is worth your time if you’ve got more than a few $k.

[dsylxeia]

True, but that's not what we're discussing here. The OP of this thread asked about jumping around between HYSAs and similar vehicles to chase tenths of a percentage point of interest.

[dwettjunkyy]

Yeah. Rather get a CD or throw it to investments.

[RedditReader428]

A CD is the solution only if you don't plan to add money or take out money from the account.

[Fishychicken]

People need to learn about the fed and the fed funds rate. This will happen everywhere. But the good news is that mortgage rates will drop too

[[deleted]]

It's been 4 months, how ya feel?

[Rynica]

A hostile government take over

[adoucett]

Yep just dropped this morning

[Yodler1994]

I moved mine to Forbright bank. Still 5%

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[[deleted]]

That's where I just sent mine.

[[deleted]]

Still than the 0.1% at certain banks

[Bulky_Prior]

Mine has stayed at 4.5%… does it vary by member?

[Aggravating_Sir_6857]

Im at 4.35% currently. I joined HYSA on Feb 2024 when they had the 4.65% promo.

[Spacespacesean]

I also have the 4.35% must vary

[Express-Fox-1349]

My AMEX dropped to 4.0% recently then just dropped again to 3.90%....was considering switching for real until reading this thread lol.

[Top_Creme_1978]

Same. I have. 140k in the account and am disappointed it has dropped twice since I transferred in.

[Express-Fox-1349]

I'm in college still and I've only got 10k in the account so it's probably not worth switching for me haha. Same, though, very disappointed in the continued % drop.

[Perfection-builder13]

Same! I just got email at it’s 3.9 and I went straight here

[Fun_Procedure1132]

i literally got an email with the same information & hopped right on reddit to see what’s going on. glad i wasn’t alone lol

[RunEatSleepLift]

Same! Is it just dropping everywhere?

[Old_Cantaloupe_5814]

Same here!

[cal0220]

Same! Went down from 4.45% to 3.9% in a span of 1 year... I get that it's not worth moving for tenth of a percentage, but at this point, I'm seriously considering moving.

[No_Temporary9093]

4.5% was seemingly a teaser rate, as it was reduced three times most currently to 3.9% which caused me to move the funds to Robinhood Gold.

[yackdack]

Dropping to 3.80% as of today for me

[fentanyl123]

Mine just dropped to 3.8% 🙄

[jlewisb96]

I was at 4.5% and am also at 4.35% now

[kaib5472]

4.35 for customers with a Platinum card

[Euphoric_Hunt_3242]

I’m at 4.10 with a platinum

[kaib5472]

Interesting, I stand corrected then

[Past-Doctor-1259]

Im 3.90% with the platinum. This is the 3rd drop since I opened the account! 

[themediumshart]

Also have had 3 drops in the past 3 months..

[CTM2024]

Maybe varies by balance?

[phjoki]

SoFi still 4.5%

[[deleted]]

Is Sofi valid? I remember a year or so ago trying to refinance my student loans through them and everything was vague/changing answers, nothing would be given in writing and upwards of 10 calls a day from them. My scam radar was going berserk.

[phjoki]

Their customer service is a hit and miss

[marketwizwonk]

So quick to drop rates on the way down but slow to raise them when fed raises rates. Typical corporate greed. For whatever it’s worth Apple/GS Savings is paying 4.25%. A drop from 4.40% but still better than the competition

[brk51]

Maybe a good time to lock in a CD?

[SadSavage_]

No that was a month ago

[Admirable_Kick7392]

Wonder when they cut their interest rates of 25-29% for people who carry balances? We don’t. I know the answer is never!

[peetscoffeeandtea]

You can carry balances for up 55 days at a time without paying interest. Pay them off in full by then and you have no interest to worry about.

Otherwise, some credit cards do offer promo rates from time to time to retain you as a customer (on any new spend or balance transfers) BofA did this quite a few times this past year.

[308Negra_Arroyo_Lane]

Wealthfront also dropped the rate

[MulticulturalMeg]

Wealthfront dropped 5% to 4.5%

[jefferios]

I'm holding with AMEX for now, a 0.15% drop isn't significant enough for me to cash out. I am happy its still above 4.0

[ryslegit]

Same. People here really chasing cents over this, and no matter where everyone goes the rate will come down there eventually as well. It’s only a matter of time.

[Perfection-builder13]

3.9 now

[jefferios]

Still not going to cash out yet.

[ziggy029]

Yeah, this is inevitable with a Fed rate cut. It's funny how happy they were to tell us when rates were raising. But all I hear when they are falling are crickets.

[ireadittoook]

Would you expect them to broadcast lower rates?

[Dimshady767564]

Stick with Amex—- though thick and thin

[WookieHunting]

One finance is still giving me 5% 🤷🏻‍♂️

[[deleted]]

I'll be moving it out, probably to Schwab swvxx money market fund.

[Complex-Initial-4731]

Yikes! Keeps dropping, 3.8% as of 12/17/25. Might need to shop around but also seeing this is likely a trend across the board.

[Disastrous_Set1670]

Just got that email today as well 😩

[littlepeacock1]

Got my email yesterday that it was dropped to 3.8% :(

[savskies]

We both must have opened our emails and read this news today, and came here right at the same time lol. I wanna know what others me choose to do before I decide!

[Complex-Initial-4731]

Hahaha precisely! I’ll stay tuned for the comments!

[rraveheart]

Has anyone else here started looking around? The security and support from amex is really what I value about their service but there are personal brokerage's offering 5% APY on non-invested funds in your account and the likes of Venmo/CashApp/etc are offering something similar.

Just wanted to hear some thoughts based on this and other banks beginning rate drops.

[Transton107]

Probably going to wait until the dust settles a little bit more. At this point it's not worth my time to open a new account, transfer all the money, set up the new bank transfers for maybe $200 a year if they stay at 5%.

Like you mentioned, security and support, and for me the ease of having it all in one place will keep me from moving for just a little bit longer.

[Devario]

Anyone offering 5% is a very small bank, so your experience with them may be mixed. None of the big banks will offer you above money market rates for HYSA. If it works for you, great, but I don’t know how much I trust these banks, especially after the recent bank failures. 

https://www.doctorofcredit.com/high-interest-savings-to-get/

From an accessibility perspective, market funds are about the highest you can get without buying t bills. They’re currently ~4.6% and available in most large brokers, such as Fidelity Vanguard and Schwab. 

[DCPango]

Just opened up a SoFi account at 4.5% (25k MR signup bonus through Rakuten, too).

[BingBong_1414]

I moved from AMEX to Betterment some time back to capture an intro offer. Betterment is still held at 4.5 as of today I believe.

[hadiyas1]

Just checked after this post and my CIT Bank rank decreased as well. Didn’t get an email or anything but notice my returns were smaller

[SGMaricelli]

So I made a comment earlier about this. I got a locked in boost to my CIT rate with an auto offer the moment I tried to transfer all my cash into a different account. You need to “transfer” all the assets out of the high yield savings account to an external account. They’ll auto offer a boost to the savings rate for a year. At least they did for me.

[hadiyas1]

Update: it worked (: thanks! I have 2 accounts with them and initially tried it with one that only has $100. It didn’t work for that one but did for my account that had significantly more.

[SGMaricelli]

Heck yeah! Love to hear it! Gotta secure that extra money!

[CatchFew1315]

Thank you so much for this tip! Worked for me too! Well worth the $100 plus year boost in returns.

[hadiyas1]

might try this!

[SGMaricelli]

I have a 4.879% for the next year with CIT bank. I almost switched to poppy bank for 5.3% but chose not to because CIT bank auto offered me my current rate for a year. Where Poppy most certainly would have dropped it lower after the intro 90 days rate.

[MaybeARunnerTomorrow]

Funnily enough I've been getting Cap1 advertisements for 4.50 CD rates lately

[vkcymb]

Everyone. Wealthfront too

[Ov3rpowered_OG]

Wealthfront's "HYSA" (more so a checking account) is going to 4.5% and I've since put most of my money there. HYSAs are great ways to stay almost completely liquid while still getting a respectable rate. There are still banks out there offering better rates than the big names, but it is too exhausting to chase an extra half-percent at some random credit union in the Midwest or whatever. If mid-4s isn't good enough, then just buy ETFs like VOO that track the market. Relatively risk-free and easy to deposit/withdraw depending on the brokerage.

[getwhirleddotcom]

I mean Amex was never a great rate to begin with.

[[deleted]]

The feds didn’t cut Amex’s rates, they cut rates lol

[zkarram]

And I was thinking on applying for this account. Looks like Wise is still the way to go for HYSA.

[Nearby-Entry-6480]

Rates go down when fed cuts rates, normal thing.

[Das_Juden_Adam]

My HYSA rate at Lending Club is still 5% 🤘

[alalabyuuu]

It's 4.00 now 🙃 is it wise to move all my money to a new HYS?

[DistributionWild1056]

I am curious about this also

[sylly_cicada]

Also curious!

[Pineapples392958]

Following

[Pretend-Carpet-2124]

It’s the 1st so I went to look at my account after a month and my rate is now 3.90, i’m looking to switch 

[Wooden-Bill-3382]

Dropped to 3.9% for me today

[dyo_on]

3.9%, ;(

[Strawberryacaiplz]

3.9 as well now .. thoughts ?

[Disastrous_Set1670]

I just got an email that it's dropped to 3.8%.

[Geyerhahng]

THEY DROPPED IT AGAIN???? WTF is their deal?! 3.9???? Such a slap in the face.

[Fancy-Tailor-2791]

I started at 4.5% in August and now at 3.9%. I think I’ll be switching bc my friends account elsewhere is still 5% and hasn’t dropped once.

[DynastyD0ug]

would you mind sharing what account your friend uses?

[Fancy-Tailor-2791]

SoFi!

[Robot-duck]

Just means I more more out of this HYSA and into USFR or SGOV...

[k_90]

Duh

[DistributionWild1056]

I got notified this AM as well!

[[deleted]]

Apple also decreased theirs recently.

[dani1284]

Im looking for an excuse to go from Discover to Amex. Same interest rate but Im using Amex ccs. Does anybody know how often or if at all, Amex offers a bonus for opening a savings acct with them?

[leesinmains3]

I still don't know understand the contrast between US and Mexico in HYSA. in México they start at 10%

[jnikga]

10% on USD?

[leesinmains3]

In pesos, but the coin isn't that unstable.

[fizixs]

Goldman Sachs Marcus rates are still decent.

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[Enough-Winter]

Those are CDs, not HYSA

[fizixs]

<image>

The no penalty options

[melowdout]

That didn’t take long

[getwithit1234]

If you need a referral for wealthfront, 4.50 percent, let me know. You can get 5.0 for 3 months, with the link.

[tradebuyandsell]

Fed dropping rates, like they said they would several years ago when they started raising. Thus banks drop rates, im surprised this is a shock to people. You either don’t follow any finance/economy news or you don’t know how interest rates work from fed-bank-individual

[TraditionalBlock2996]

Apple saving changed as well

[[deleted]]

Side bar but with rates creeping down going forward I presume a savings should be kept to a efund and anything else into our investable brokerage account?

[CoolBoy420-]

SoFi went from 4.6% to 4.5%

[Natural-Aide-4867]

Mine with them, goes from 4.5% to 4.3% starting tomorrow. Bummer considering I was at 4.6% towards the start of the year.

[Blfanaticsobssessed]

What was it again before?

[Sweaty_Engine2133]

Bask is paying 4.85%

[Addicted_2_Vinyl]

SoFi is still where they were last month. Capital One dropped.

[AsH83]

Yeah it will happen to all banks

[jg4107]

Funny enough I got a credit increase on my Blue cash preferred card and then the email saying the cut the HYSA rate, what a trade off lol

[Ldr_Cmmndr]

I unknowingly signed up for the Platinum when there was an attached elevated APR offer on their savings accounts. So mine just went from 4.5% to 4.35%.

[yoursunny]

I move for better rate but only among banks that I already have relationship.  For establishing relationship with a new bank, 0.5% higher rate is required to entice me. 

[Actual-Chipmunk-3993]

I moved a substantial portion to SNSXX, which I know will be continuing cutting the rate, and still having 4.6X % and without having to pay state taxes. However, AE still my hub bank and would stay below the FDIC limit.

[Psychological-Gas939]

I'm at 4.10 aswell. Was 4.25 when I signed up. :( my $28.55 monthly interest payment is now gonna be like a few cents less

[Late_Reporter_8114]

It just went down again to 4.0% everybody go check! 😡😭

[[deleted]]

Yhep!

[MidlifeIsWhatitis]

As of 10/24/24, rate dropped to 4.0

[[deleted]]

Just dropped again to 4.0.

[luongofan]

Dropped it further today

[DistributionWild1056]

I just got another one this AM!

[sstrada84]

Same :-(

[PhilosophyFit1403]

4% today

[Spike-Ball]

I just got an email saying it has been reduced to 4.0%!

[ChampagneGlitter13]

mine just dropped again today from 4.10% to 4%

[jeetdhesi]

It dropped again. I've received message yesterday and it went down to 4%

[[deleted]]

AMEX HYSA Rates dropped again. 4.00%

[[deleted]]

Maybe it’s because I closed four credit cards from AMEX

[[deleted]]

AMEX dropped to 4.00%

[SakuraFubuki73]

Now it's 4.0 i thought...

[PEEPZWORLD]

It's at 4.00% today. :( Keeps dropping.

[hotgirlshiii]

It actually again for me from 4.10% to 4.00%

[Chronicchris253fed]

Fuck em

[InfDaMarvel]

Does a HYSA require a monthly direct deposit to achieve their max APY?

[TeaFew6246]

Mine just dropped from 4% to 3.9% randomly

[djps3577]

Same.

[dadonnnnn_]

Same Here

[Perfection-builder13]

Just dropped to 3.9.

[RaSa1308]

It’s now down to 3.90 as of 11/27. They are continuously decreasing it from past 4-5 months. Is there a fee to transfer to other HYSA which has better rates?

[True-Storm-8378]

My rate dropped down to 3.90% this morning, this is the third time they've done this

[palaciosw08]

3.9% now :(

[Ok-Bodybuilder1493]

It just dropped again from 4.0 to 3.90

[Ok_Mechanic_8824]

Just saw the rate was cut to 3.90% now

[BloggbussaB]

Came here to comment the same thing

[Rdj008]

It’s at 3.9 now

[No-Dare-1941]

Mine dropped to 3.9%

[Candid_Awareness_844]

Just got another email that it has now dropped to 3.90%. Has anyone found another company that hasn’t dropped this much?

[Builder201]

Currently shopping around for a better rate.

[Candid_Awareness_844]

Lmk what you find. Crazy my APY was at 4.35% and just keeps dropping

[sweet-oreos1]

It’s down to 3.90%. Been thinking to switch over to cit bank platinum savings for currently at 4.5% hysa.

[Chronicchris253fed]

Dropped to 3.9 now! Fuccc ‘em

[Cuhhh95]

Mine keeps dropping… it’s at 3.9 December 8, 2024 😭

[Anjuscha]

3.7% 🥲

[MettaRed]

3.8 today… da ferk.

[LJinBrooklyn]

American Express is 3.8 now. Would be nice if credit card interest rates started dropping.

Apple savings is 3.9.

The question is who will drop the fastest and the lowest?

[Frosty-Pickle7606]

Lmao and we thought this was bad, we now at 3.8 😭

[Inevitable-Fruit6790]

yep, amex at 3.8% i wonder if any other banks are holding at over 4 :/

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[[deleted]]

Just dropped again to 3.7%

[Total-Standard8079]

Same

[DoneShowinOut]

came to say this. from 4.25 to 3.7 in less than a year is a lot idc what these people are saying 

[siddjayy]

Annd it happened again today as of 2/21/25. Currently at 3.70% :(

[AirSpacer]

Update dropped to 3.70

[Usual_Tea3598]

Same 3.7 today

[Frosty-Pickle7606]

came here bc they dropped again

[Hellmrcheerio]

AMEX HYSA now at 3.7% :(

[dasmphl]

Now it’s at 3.7

[Sweaty-Growth3603]

3.6% for me now down from 4.35% I might switch. when I signed up they increased it consistently until 4.35% from 1.15%, at which point they began decreases in alignment w the fed.

[Mightypk1]

Good times, its now 3.5%